Boost your sales efforts through lead scoring

When companies start implementing strategies that focus on attracting leads or customers, the first question that comes to mind is, will we get enough new leads in our funnels? The next step is to evaluate the quality of your lead and this is where lead scoring comes in.

So what exactly is lead scoring? It is a process used by numerous marketing and sales departments to evaluate and rank prospects on a point scale which assigns a score to each lead. The emerging score is then used to determine the priority of the leads the sales team then will engage with.

According to a recent research by DemandGen, 41% of participants reported an increase in the conversation rates when it comes to leads that were generated through the lead scoring process. (Source: demandgen.com)

Each company has a different process of verifying and qualifying it’s leads – nonetheless, to benefit the most out of this significant approach companies should:

Define explicit and implicit criteria
The base of each lead scoring is the definition of the explicit (demographic) and implicit (behavioral) characteristics of your ideal lead.

The explicit approach describes the readily available information that enables marketers to determine whether the leads are a good fit for the companies this includes: the industry, products or service, company size, etc. On the other hand, the implicit approach describes the behavior of the prospects, for example: Do they register for webinars? Do they open the emails? Do they download white papers from your website? Do they hold decision making positions in their companies? This helps you to filtering through the clutter and select the ideal customer profile.

Crosscheck with sales
Your sales team is closer to the leads because they get in touch with them more often. Most likely, they understand the pain points and needs of prospects better than any other department in your company. Their feedback about interests and tendencies should be considered when developing a lead scoring model.

Customise your scoring
Assigning the same value points for actions of the same nature could hinder an effective lead scoring process. For example, when awarding points for opened e-mails, one should consider what the email is about. Is the e-mail announcing a new innovative product or service or is the e-mail informing people that your company will be closed for holiday? The first action certainly requires a score while the second doesn’t. Applying the same principle to other actions will help in fine tuning your scoring process

Disqualify dead-end leads
Occasionally, some leads which contact you never convert into customers simply because they are not decision makers. For example, an intern who fills out your contact form would probably be doing an academic research rather than looking to purchase your product or service. Using lead scoring tools to automatically disqualify such leads saves time. Example of tools?

Last but not least: Automate
Despite the human factor when defining the ranking amongst leads, implementing a lead scoring model can be difficult to manually accomplish because a lead’s preference or activity can change every day. You need technology for optimal results so that the hard work of qualifying the data is done through the algorithms that are created. Companies should thus ensure their marketing automation and Customer Relationship Management (CRM) systems are integrated for scoring. FinancesOnline, a reliable SaaS software review platform assessed top 20 online CRM tools and found out that many of these tools deliver excellent lead management such as:

  • HubSpot CRM is listed as one of the best free of charge CRMs that includes modern features, tracking and nurturing faucets all in one package.
  • Salesforce Essentials dominates a big fraction of the market because it provides a variety of services like marketing automation, partner management, lead management and sales data control. Many companies mostly prefer it because of its top-notch reports and real-time views of the sales team’s interaction that can help you in creating weekly analysis and forecasts.
  • Freshsales is also among the most chosen CRM. Users find its intuitive interface, activity & behavior captures, AI-powered lead scoring and other unique features very effective. Freshsales works best for small or medium sales teams which possess minimum to no previous experience with digitized customer relationship management.
  • Pipedrive is a CRM that should be considered to improve sales and service delivery. Due to the numerous features, Pipedrive is used with over 50,000 companies worldwide. All the functions are built within active selling that provides users with adept control over deal completion as well as lead nurturing.

If companies invest on the latest lead scoring tools and implement the key factors as mentioned above, their overall sales process is bound to improve. And for an effective lead processing strategy, it is essential for the marketers and sales teams to closely align their lead management efforts which will in turn maximize sales opportunities.

Which other lead scoring tools do you know of?


South Africa and India both chosen as CX Leaders by Ryan Strategic Advisory

Earlier this week I attended the CX Outsourcers event in Windsor. It was billed as a mindshare event where many people from different parts of the customer experience (CX) industry would get together and discuss common challenges and strategies.

The event was organised by Peter Ryan, the Principal analyst at Ryan Strategic Advisory. Peter’s company has recently put together research on the most favoured location for companies engaged in Business Process Outsourcing (BPO) and other forms of CX services. For the 2019 Front-Office BPO Omnibus Survey he polled over 500 decision-makers, so the poll is a great indication of which countries are improving and which are in decline.

Naturally to get the complete research you need to buy it from Peter’s company, however he presented information about the top five results during the conference and he simultaneously released a podcast too.

The poll results were exciting news for the team at Webhelp because South Africa and India – which were joint second place - are two very important locations for our delivery teams. To see them both ranked so highly is an important sign that executives making decisions about their CX globally see these locations as highly trusted.

In a blog post on his website Peter Ryan explained why South Africa and India did so well in his research: “South Africa maintains its second-place ranking in the 2019 offshore favourability rankings, albeit in a tie with India.  In the case of South Africa, the country’s outsourcing stakeholders have made efforts at courting new investment that are clearly paying off. Buyers in the US, Canada and Australia are affirming their confidence in South Africa. As for India, its history as a quality customer experience management delivery points cannot be understated, nor can its emergence as a go-to point for many buyers from the perspective of non-voice, digital channel management.”

The entire CX industry is facing a wave of digital disruption at present as companies explore how some brand-to-customer interactions can be automated. This was also a key feature of the CXO conference that I will follow up on in a separate comment, however it’s worth noting that I believe the real answer is to only use automated tools and AI where it improves the customer experience. Getting this blend of digital and human service is now an important part of the planning process when considering how to deliver great CX. In fact, we are releasing a paper on AI and Automation, so be sure to sign up for it now.

Back to South Africa and human contact… In South Africa we use a strategy known as Impact Sourcing, working with an organisation called Harambee. This partnership helps our team to find unemployed young people who would not usually have an opportunity to enter formal employment without the training Harambee provides. Not only is this great for the local community, but because of the investment Webhelp and Harambee makes  in helping these people get a job you simply cannot find greater loyalty and dedication. These young people love coming to work because they can remember when they didn’t have a job and it was almost impossible to find one - good for the community and also good for business too. You can get a flavour of the calibre of our Impact Sourcing colleagues, as well as the impact rewarding employment is having on their lives, by reading their stories: Celine Walters and Morgan Wagner

It’s these innovative ideas and an agile approach to customer service in both South Africa and India that sets our team apart in these locations. In conclusion, it was a pleasure to be at the CXO conference this week and we all felt great pride hearing just how valued South Africa and India are in the wider CX community.

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If you’d like to find out more about Webhelp or ask Craig a question, email: craig.gibson@uk.webhelp.com

 

Craig Gibson

CHIEF COMMERCIAL OFFICER – WEBHELP UK, INDIA & SOUTH AFRICA

 


Artificial Intelligence On The CX Frontline

Much has been written about how Artificial Intelligence (AI) is changing the way that customers interact with brands. Tools such as chatbots are offering a way to provide an immediate and automated service and successfully handling many simple questions from customers. People are getting very used to asking ‘Alexa’ for help when they have a question about almost anything.

AI is becoming very pervasive, even for people who might generally avoid new technologies, but how does this change the customer service frontline – the contact centre? It is clear from the recent Webhelp study undertaken with YouGov that customers are actually quite wary of too much automation – they still prefer human interactions – but what do the people in the contact centre think?

I thought it would be a great idea to talk to some of our team, so I arranged a focus group with our customer service advisors who handle customer interactions on behalf of our clients every day to find out what they thought about AI and how it might change their role at work and their life in general. They had some really interesting insights that I’d like to share with you here.

Our first topic was the customer experience itself. How do customers experience a brand when they are usually interacting with a contact centre and how might this change if an AI chatbot was managing the interaction? Comments included:

“Customers don’t always get what you’re saying when you’re on the phone; or they don’t want to hear it, so they just ignore it. How is a computer going to be able to navigate that?”

“Chatbots are really fast and quite responsive.”

“There is nothing more infuriating than phoning someone up and having to keep pressing buttons.”

These are quite measured responses. It’s true that when automated systems are implemented poorly they can be very annoying, but as mentioned, when they do work they work well. However, that’s a great comment about conversing with people. If customers ignore or miss information when they talk to other people, how will an AI system learn to manage that?

What about the question of whether a brand should automate, or use human advisors, or should the customer be able to choose? Should there even be a customer choice here or should a company just make the decision?

“I think the option always has to be to speak to someone.”

“As long as you give them the option, you may find that people actually choose the automated version over time. But the majority will probably start with humans because they’re comfortable with that. It’s important not to take the human element away from them.”

“It’s about choice – and being able to choose when you speak to a chatbot and when you speak to a human in order to get to something, rather than going through a complicated process.”

“There are some people who get a little anxious about calling up as it creates anxiety for them to actually speak to another human. They might find it comfortable to speak to a chatbot or a speech recognition assistant.”

This is very interesting because the team acknowledged that sometimes the customer doesn’t really want to talk to a person anyway. Think about a company that is calling people to collect outstanding loan payments. The collections process might even work better if the customer can just talk to a computer rather than a real person – nobody feels any shame talking to a robot. It’s also interesting to see that the team believes that the customer should have some choice, but they should always have the right to change their mind. For example, they might think that a chatbot can handle their simple question, but it starts struggling. At this point it should be easy to switch to a human, otherwise the entire process will start feeling complex and challenging.

I talked to the team about some of the day-to-day examples they can think of where they regularly interact with AI. This focused on normal daily activities rather than any complex use of technology. They had some great comments.

“I can just say ‘Alexa, play Spotify!’ without even looking for my phone, without even grabbing a remote. The technology is there to make it more convenient for me to do whatever with Alexa  - it can follow commands without any effort. It’s there to make your life easier.”

“AI is great when it works but there are still faults. My Echo dot seems to just start playing YouTube whenever it wants.”

“You forget the microphone button is there and it’s constantly listening and will hear you talking all time of the day to your family and friends.”

So in many cases there is great convenience. Many of us are now used to asking Alexa for help and find it a chore to search for a remote control or keyboard when it’s now normal to just speak naturally to a device. However, it’s clear that the devices still have some flaws and there is also a sneaking suspicion that we are allowing many of these devices to listen to our entire lives. People are getting concerned about privacy.

This led into a more specific discussion about security, personal data, and privacy. The team tried to explore some of the questions about how well we really want brands to know and understand us.

“Technology as a whole has progressed. It’s the security side that has not progressed as much.”

“In this day and age, you’re being watched 24/7 even when you just step outside – you’re being watched by cameras everywhere you go.”

“AI is an amazing thing, but you’ve got to be wary of the security side of things … Can you allow a computer to make decisions on your behalf? A computer doesn’t have any morals. It doesn’t know what’s right.”

It was really interesting to see this discussion about morals because this is one of the classic problems that many companies now face as they use AI more and more. Self-driving cars are a great example. Should the car always protect the passenger or always try to minimise loss of life? It’s an interesting question because sometimes a car may need to take a decision to save several pedestrians at the cost of the life of the passenger. Would you allow your car to make that kind of decision?

We explored the generational divide and how technology is generally evolving and one of the team summarised it by saying this: “The big mistake humans make is that they rush into things. They see a gap in the market, and they rush into it without thinking about what it actually means. Look at all the people who have iPhones and don’t know how to actually use them.”

This is a very powerful point. We know that the use of smart phones and social networks has been affecting attention spans and how people interact, but nobody knows how this will affect education or relationships or health in future. Some researchers are raising the alarm, but the genie is out of the bottle now – to reject technology and say you want to live a slower, less connected, life would be far from the mainstream. We will soon see AI play a much more significant role in our life, even more so than smart phones, but are we ready to welcome this change with an awareness of what is changing? At the moment our team really don’t think that people are aware of how fast their world is changing and that’s concerning.

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Author: Ewan Mckay


Inside Sales – This new generation of B2B salespeople that is changing everything! at last!

The B2B sale has adopted a new model, of American origin. More efficient, it is based on Inside Sellers. Their profile and working methods are presented by Etienne Turion, Webhelp Enterprise CEO.

  1. What are the new challenges in the sale of B2B products and services?

First of all, a first observation: "cold" contact is largely over in B2B. Call campaigns are no longer launched on the basis of a simple list of contacts. The first challenge is therefore to better understand the targets, upstream, in particular through analytically optimized data in order to create a finer segmentation and to carry out highly targeted marketing initiatives.

Second observation: B2B buyers are becoming better informed and connected, thanks to social networks in particular. Better prepared purchases lead to more confidence in remote contacts. As a result, they no longer need to have met and shaken hands with a salesperson to place an order.

Third general observation: B2B brands have clearly understood that the search for profitability also involves active or dormant customers. The value of the installed base being better understood today, the challenge is to address it correctly. Here too, data marketing is essential, the (telephone) contact with an experienced B2B sales representative remains essential for complex or high value-added products or services.

  1. How are current vendors adapted to these issues... or not?

It all depends on the country concerned! In the United States and Great Britain, for example, a new inside sales model has emerged for B2B sales. But it is not sufficiently promoted by schools in France, which explains why there are still too few "modern" salesmen there.

The profile of these new generation salespeople is also unique and has six main characteristics:

1 - An informed career choice for business, because they want to combine individual performance and collaborative work. Helped by a specific working environment, within multilingual hubs in a large city, which could be akin to a competitiveness cluster, where they can flourish in a stimulating atmosphere, even in infrastructures: open-space, large offices, laptops...

2 - Seniority and increased autonomy, two components sought by both salespeople and recruiters, and which allow their commercial fibre to be expressed. And as such, they are paid on a performance basis.

3 - Omnichannel control: the voice channel but also all digital channels, messaging, chat, e-mail, social networks, document sharing, etc. This puts them on the same level as the customers with whom they are in contact and allows them to develop a proximity between them.

4 - Proactivity: they are looking for training and information actions to gain an excellent understanding of the products or services to be promoted, because "we only sell well what we know well" and for sustained collaboration with the field sales teams.

5 - Their age and background, often under 40 years of age, and at least three years of higher education. They are multilingual, with a proven sales background, comfortable managing a P&L.

6 - Their rarity in France, but they are found in cosmopolitan and attractive employment areas, such as Barcelona, with French-speaking or English-speaking natives.

On the brand side, these inside sales or sedentary salesmen are perceived as the most likely to bring an optimal ROI - especially in a context where the sale of services rather than products is flourishing. These companies express increasingly high expectations not only from outsourcing service providers but also from networks of professionals such as AA-ISP, with whom we work closely.

  1. What is the partnership between the American association AA-ISP and the Webhelp group?

It is a mutual contribution. The association brings together inside sales professionals from around the world and allows the discovery and sharing of good practices: it helps to professionalize the approach and makes the link between a vision and its operational implementation. It has a representation in France, the AA-ISP Paris Chapter, created in June 2018, of which I am Chapter officer.

This partnership was built in a natural way, since Webhelp had already identified and even implemented this model outside France. Thanks to this partnership with AA-ISP, we benefit from an ecosystem of experts and companies organized to develop the inside sales model.

  1. How is this inside sales B2B model implemented at Webhelp?

Since 2000, the Webhelp group has set up multilingual hubs dedicated to our B2B inside sales in Barcelona, Athens, Prague, Puerto Rico and Kuala Lumpur in particular.

From these multilingual hubs, we can manage ambitious B2B marketing or sales operations to France and abroad: Europe, the Americas, Asia. This gives us the ability to process local, national or global requests. These premises, their equipment and working atmospheres correspond to the expectations identified for talented sedentary salespeople. As well as their training expectations.

Therefore a specific educational path is offered to our sales representatives via Webhelp University. And this in a dynamic of continuous improvement and long-term collaboration.

We have also invested heavily in digital technology: upstream, by developing data-marketing expertise to supply these salespeople with qualified leads, but also at the individual level by providing salespeople with sales support tools. We have developed:

  • a recommendation engine connected to a catalogue of several thousand products,
  • an assistant to develop the upsell based on an A.I.
  • and we rely on market solutions such as Sales Navigator to prospect on LinkedIn.

We remain pragmatic, technology must first serve the customer experience through the relational intelligence of salespeople.In this context of digital transformation, one element remains unchanged: it is the human relationship that makes the difference.

Would you like to know more about our sales solutions?

Webhelp B2B

Contact
Etienne Turion
Mobile : +33 (0)6 85 52 76 10
E-mail: eturion@fr.webhelp.com

 


Digital Disruption Is About People, Not Just Technology

Digital Disruption is one of those phrases endlessly bounced around the university campuses and technology industry today. Often it is hard to nail down what people mean when they talk about digital disruption, but they are generally referring to a rapid industrial change that is driven by emerging technologies – in other words, rapid change.

In some cases this can be incremental, look at how many traditional High Street banks continue to operate alongside the app-only challengers, but in other examples it can fundamentally change an entire industry - look at how Instagram means that younger generations have no idea that you used to put film in a camera before using it. Smartphone cameras and photo sharing apps have completely changed how people take, share, and interact with photographs.

But digital disruption is not just about organisations. Technology can disrupt lives and careers. Imagine trying to get a job today in a professional field and being told that despite your previous work experience and qualifications, you have no knowledge of coding and therefore you will not be able to fit in and use the systems that the hiring company is using.

Coding? Isn’t that just for software developers? This is a common reaction, but the reality is that many professionals today need to code, even if it is just a small amount of VBA inside an Excel sheet. However, as more and more professionals are expected to use automated tools, such as Robotic Process Automation (RPA), coding is becoming a skill that is far more important on your CV than that endless list of hobbies.

I believe that digital disruption is actually about people and their careers in addition to organisations and how they function. I started #techmums back in 2012 with some of these ideas in mind because I saw how many women put their working life on hold to care for a child only to have their confidence knocked when they tried returning to work.

We all know how childcare can damage the lifetime income of women, but the damage is not just financial. Mums have so much to offer, but their frequent negative experiences trying to get back to work can lead to a dramatic loss of confidence.

Our #techmums students often come to us with little, to no technical knowledge. Over the ten-week guided course (with 2-hour classes), we build their confidence, tackling a different aspect of technology through classroom-based workshops. From basic IT skills, to online safety, to programming and app design the course is designed to give a taste of what technology today can do for them. Kids love it, that their mums have had a go at designing an app!

At the end of the ten weeks, each mum gets a graduation certificate. Hitting grading criteria isn’t our focus – instead, we celebrate the overall achievement of gaining confidence in using technology. Research found that not only was there a huge confidence boost in our mums’ ability to use technology; there was also a significant increase in their more general personal confidence. In fact, the headmaster of that first pilot school in 2012, Nick Soar, said that alongside boosting our mums’ confidence, there was a marked difference observed in their children as well. Today we also have #techmums TV so anyone can watch and join in, even if they don’t have time to attend the classes.

Disruption is often presented in a negative way, but it can create empowerment with the right approach. This is exactly what I wanted to achieve when I founded #techmums - empower women through technology. As a single mum, I brought my own family out of poverty through tech education, so I know its power first hand.

Today, it’s easy to see technology as the enemy, where as in fact it can be life changing in an incredibly positive way. Our courses help women harness that potential in their own lives, giving them the confidence, skills and inspiration to play an active role in our shared digital future.

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Dr. Sue Black OBE

Professor of Computer Science, Durham University, and Founder of Techmums

https://www.linkedin.com/in/sueblack/

https://techmums.co/

https://www.dur.ac.uk/computer.science/


Transforming your contacts to viable leads

With the fierce competition in today’s business world, it is survival of the fittest. Small companies are compelled to work extra hard in order to grow and keep up with the rest when identifying new leads and finding new contacts. Converting a contact into a promising lead is certainly not a walk in the park! It is a complex multi-faceted journey that calls for pre-planned steps of communication and keen follow-up. While it’s true that at first glance a majority of the prospects display the possibility of becoming leads, not all match your business model, a fact many companies overlook. The following steps will help you to turn your potential client from being a mere contact to a viable lead.

Identify your target group

The first encounter with your prospect is crucial as it will lay a foundation that will help you in effectively connecting with highly beneficial leads. When creating the ideal lead profile for your business, you should consider;

  • Demographics– if you are a B2C service provider, the age, income, gender, occupation and household type (married, single, families) all impact your interaction with the target group.
  • Psychographics– our diverse personalities denote a set of characteristics and traits that affect our behaviour as consumers. Social factors such as lifestyle, hobbies, interests and social group memberships all play an important role in shaping our preferences e.g. our choice of brands.
  • Geographic proximity– depending on your business, the location of a potential client or customer likely to partner with or buy a product or service from you is essential to note.

Get acquainted with your lead

Communication is a two-way traffic and establishing a smooth and reliable flow of information will build and continue to strengthen the trust your potential client has with you. Conversation ice breakers can be surveys, mailings or questionnaires sent out to your contact list. Your prime job will be to pay close attention to the information your prospects share with you. This will help you to better interact and understand your potential clients and the more you share relatable and relevant content, the more your new potential clients will be comfortable to do business with you.

Stay in touch

Without nurturing them, new relationships can rapidly become no relationships simply because, it takes time and effort to connect! Some marketers and head hunters are afraid of becoming a nuisance so they contact their potential clients very sparingly. This is definitely a deal breaker in the sales environment. Infrequently reaching out to your clients will neither help in creating a strong connection nor will it turn the customer into a buyer. Big and outstanding brands became household names through frequently engaging with their audiences. The only way to successfully convert a client from an interested prospect to a satisfied client is to maintain responsive conversations. Occasionally, you may not get the feedback you want, but keeping a steady contact will foster a base for a lasting client relationship.

Use social media campaigns

In today’s marketplace, actively incorporating social media channels in your marketing efforts is a must-have. While contacting your prospects through email is great, using social media as a marketing tool not only generates fruitful leads it also enhances a more personalized interaction. Social media is cost effective and it has more to offer apart from growing a brand or connecting with current customers.

When correctly implemented, Facebook, Linkedin, Twitter and Instagram generate real and profitable leads. According to a recent research, 24% of businesses increased their revenue by generating their leads through social media. (source: postplanner.com) We live in a time where 40% of people prefer socializing on social media than face to face. This by itself creates the perfect platform to net your target audience into your sales funnel and convert them into new sales leads. Knowing your audience will help you in choosing the right channel for your business. In a B2B setting, 59% of marketers say Linkedin generates their leads while 24% is generated from Facebook and 30% via twitter. (source: foundationinc.co)

Track your conversions

Ultimately, no amount of sales conversions or marketing efforts will be as efficient as when you monitor the entire process.  Does your lead open the links on your e-mail campaigns or does he take part in any surveys? Checking whether your prospects or customers engage with your content helps you to better understand their needs and also to choose the most ideal medium to reach them and turn them into loyal clients or customers.

Which other means of converting prospects into leads do you know of? Let us know in the comments section below, we love to hear from you!

Would you like to know more about our sales solutions?
Get in touch:  Michael Kreuziger


Can You Prepare For Digital Disruption?

What is digital disruption? Executive boardroom discussions and the business media are endlessly trying to define strategies that help companies avoid disruption, but can they even define what it is? A recent feature in CustomerThink attempts to define digital disruption in the following way:

“Technology that displaces an established technology and shakes up the industry or creates a completely new industry. Examples abound from streaming videos replacing video stores to robotics affecting manufacturing, medicine, agriculture, and the military.”

So based on this summary a few examples might be:

  • Online photo sharing, like Instagram, entirely replacing the photographic film industry, affecting brands such as Kodak.
  • Streaming services, such as Netflix, replacing video stores like Blockbuster.
  • Tablet devices, like the Kindle, replacing the need to publish and distribute books printed on paper.

So digital disruption can lead to the disruption of an entire industry if the new way of doing things completely replaces the old. Nobody goes out buying Kodak film before their holidays today so it can be said that services such as Flickr and Instagram completely disrupted the entire industry of providing cameras, photographic film, and photo development.

But executives can see all these examples from the past, so what are they doing about the future? Competition is becoming more complex and does not always come from where you might expect. Who would have thought that Apple would now be a world leader in payment services? Or Amazon Web Services would be underpinning a large proportion of the entire Internet? Are executives using their knowledge of disruption in the past to try predicting what may happen in their industry tomorrow?

According to the CustomerThink data, most executives are optimistic, in fact to be precise, 35% were somewhat optimistic about their ability to meet future disruption and 29.5% were excited about the challenge. In one sense this is positive, because it shows that around two thirds of executives are excited about the future and feel ready to change. But that figure does sound quite high - is this a sign of over-confidence about the ability of companies to change and innovate quickly?

Some industries are more vulnerable than others. Banking and financial services is a very traditional industry that has been around for centuries. Many of the best-known brands have been operating branch networks for generations and yet many of the new market entrants were not even an idea or a business plan 12 months ago.

Consulting firm cg42 recently published data in The Financial Brand suggesting that digital disruption is one of the most important threats to banks in 2019. Some of their key findings are:

  • Younger customers trust tech brands more than traditional banks; if Amazon, Google, PayPal, Apple, or Facebook launched a bank then their brand would be trusted more by younger consumers than traditional bank brands. Two out of every three Amazon Prime customers has indicated that they would be willing to use a bank service operated by Amazon.
  • The tech sector has reset customer expectations; customers today don’t compare the service their bank gives with rival banks, they compare their bank to Amazon and Apple. The tech companies have redefined customer expectations for service so is it any surprise consumers are already suggesting they might want to try this sector?
  • China has a proven case study; Alibaba in China has proven that new brands can redefine banking in a short period of time. It took Alibaba just four years to become the largest money market fund anywhere in the world - and they were previously known only for ecommerce.

Take a look at this data and then compare it to the earlier study I mentioned. Are two thirds of bank executives really so confident that they can take on the most innovative technology companies in the world and with customers who feel that tech brands are more trustworthy and deliver better service?

I’m not sure that confidence is justified, but executives can at least start developing self-awareness about digital disruption. What may be disrupted in your sector in 2019? Which technologies are starting to be used by your customers and how is your brand responding to customer expectations?

Even companies with a long established heritage can meet this challenge if they consider where new competition may arise and how new processes might change what customers expect of them. In the case of the banks it may mean that the established brands need to launch new digital platforms, buy growing digital banks, or fundamentally change how they do business. But one thing is clear, digital disruption is real and is coming to your industry soon. You can run from a changing industry, but you can’t hide. Embracing disruption is the only way to create a sustainable business in 2019 and beyond.

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Get in touch if you’re facing disruption – or want to disrupt – and want to talk through the implications for CX. E: helen.murray@uk.webhelp.com

Author: Helen Murray


The power of video marketing

We can all agree that video is a versatile and engaging mode of content marketing.  It not only gives us a “real-life” image of what is going on, it also makes it easier for us to share content across numerous platforms. In the last decade, the digital landscape has changed tremendously. According to a recent research by HubSpot, video marketing is the future because:

  • Adding a video to marketing emails may boost click-through rates by 200%
  • Attaching videos to landing pages can increase conversion rates to 80%
  • 90% of customers state that product videos help them in making purchasing decisions
  • 80% of all web traffic will result from video marketing by the end of 2019
  • 87% of online marketers currently use video content in their marketing efforts
  • 64% of customers are more likely to buy a product after watching its video
  • 59% of decision makers prefer to watch a video than read an article
  • Digital marketing experts estimate a single minute of video content to be equivalent to 1.8 million words

So what makes video marketing so influential?

Boosts your SEO
Did you know that approximately 65% of decision makers visit a website after watching a branded video? Quality and relevant video marketing dramatically optimises your website’s SEO by generating traffic to your site.

Adding video to your marketing efforts also enhances your conversion rates because 39% of decision makers contact a client after viewing a branded video. What’s more, using video content enhances your brand’s appearance on the front page of Google search engine results by 53 times! (Source: HubSpot.com)

Promotes brand recall and recognition
As we all strive to improve the customer journey, capturing their attention is key.  And one of the advantages of video marketing is it is highly visual and audible. Unlike text-based content, video makes it easier for users to remember. Consequently, when customers remember your video, they also remember your brand and often times this translates to sales increase. Furthermore, customers like giving product reviews and sharing videos they enjoy which increases your brand awareness.

Ensuring that your videos reflect your brand message will make your videos memorable. While videos have abilities that text content doesn’t, the voice, logos, colors, and fonts used should portray the same strategy as they do in your articles or blogs.

Stronger emotional connections
Video content is the most powerful medium that evokes emotions in consumers. It reaches the audience on different multiple levels that creates a more emotional connection to the brand above and beyond the traditional marketing methods. While you may not immediately go out to buy a product after watching an emotional filled video, the video subconsciously plays in your mind. Most people still recall a commercial or video that made them laugh or cry even if they saw it years ago.

Stirring up emotions in marketing has been proven to positively impact consumer decision making. Marketers are thus concentrating their efforts on creating emotional connections to their brands which as a result separates them from their competitors by creating brand loyalty. 

Increases customer engagement
A marketing survey revealed that 92% of people who consume mobile videos also share them with other people. This is a massive segment that is higher than the share rate of other types of content. The study also showed that video is shared 1,200% more than both text and links combined. Additionally, 60% of viewers engage in a video post before reading a text post. Because of this, video content is powerful in driving sales and expanding the audience reach. (Source: singlegrain.com)

Thanks to its accessibility, built-in value and viral nature, video marketing stands out as fast-growing, influential and in-demand form of content marketing. It is a perfect way to create content that is personal and has a real impact on your audience. And because buyers want to feel good about their choice, video marketing is the best medium to create this feeling when done correctly.

Which other advantages of video marketing do you know of? Tell us on the comment section below.